Bush seeks $25 billion more for FDIC borrowing plan
The Bush administration will ask Congress to authorize up to $25 billion in FDIC borrowing to replenish the deposit insurer fund. The plan envisions banks repaying via premiums, avoiding a taxpayer bailout unless repayment falters. FDIC premiums would rise from 19.5 to 30 cents per $100 of deposits.
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Washington
Bush Administration
Congress
Federal Reserve
Federal Deposit Insurance Corp
L. William Seidman
FDIC
Mr. Seidman
Fed
Treasury
Feedlot inventories reach 17 year high in March
Washington AP says March 1 feedlot inventories in the seven major beef states totaled 8.97 million head, up 8. percent from a year ago and 13 percent from two years ago. California Colorado Iowa Kansas Nebraska and Texas up while Arizona down. Nebraska leads states in feedlot cattle as Texas trails. February fed cattle marketings at 1.48 million head, down 1 percent from a year ago and 3 percent from two years ago. Cattle placements into fattening pens at 1.47 million head, up 6 percent from a year ago.
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Washington
Agriculture Department
Department
Agricultural Statistics Board
California
Colorado
Iowa
Kansas
Nebraska
Texas
Arizona
Nissan Recalls 165000 Sentra Cars For Belt Problem
Nissan recalls about 165000 Sentra cars due to a potential shoulder seat belt fray on 1990 models caused by a faulty belt guide. No injuries reported. Owners will be notified by mail and inspection and repair will be done at no charge.
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Detroit
Nissan Motor Co. Ltd
Sentra
Nissan
Dow Jones Slips on Interest Rate Outlook Woes
The stock market edged lower in a quiet session as concerns over future interest rates weighed on sentiment. The Dow fell to 2929.95, with 722 issues rising and 841 falling on the NYSE among 163.49 million shares traded. The broader market also declined with mixed results across indices.
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New York
Dow Jones
Allg Pwr
Avemco
Baltge
Bantec
Bell
Black Dr
C&S/Sovran
Citizens Bank
FTC probes FNN sale amid antitrust review in New York
The Federal Trade Commission investigates the proposed 105 million sale of Financial News Network to CNBC for possible antitrust violations. The FTC seeks 20 days to review information and has asked bankruptcy court to pause final approval while examining if the deal eliminates CNBC's only competitor in 24 hour financial programming. Copyright Infotechnology Inc. and United Press International assets cited. Marriott Corp declares 7 cent quarterly dividend payable April 22 to shareholders of record April 1.
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Washington
Federal Trade Commission
Financial News Network
Commission
FNN
Consumer News and Business Channel
FTC
U.S
New York City
CNBC
NBC Cable
Wall Street Journal
Infotechnology Inc
United Press International
Prnewswire
Marriott Corp
Tokyo stocks close above 27 thousand on third straight gain
Tokyo's key stock index rose for the third day in a row as the Nikkei 225 finished at 27,146 points, surpassing 27,000 for the first time in seven months. The dollar strengthened against the yen amid the rally.
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Tokyo
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